North Carolina approves Duke Energy’s solar rebate program
The North Carolina Utilities Commission (NCUC) approved a $62 million solar rebate program offered by Duke Energy.
The program was included as part of the North Carolina State Legislature’s Competitive Energy Solutions for North Carolina bill (House Bill 589). Duke Energy customers can sign up to participate in the program this summer.
Currently, Duke Energy has more than 6,000 customers in North Carolina who have private solar systems. The program expects to increase North Carolina’s private solar market by 200 percent over the next five years.
“The Competitive Energy Solutions law for North Carolina will encourage solar ownership for customers while we pursue a balanced and affordable energy mix for all customers,” David Fountain, Duke Energy’s North Carolina president, said. “It also allows Duke Energy to secure solar energy from independent facilities at a market rate – also a benefit for customers.”
Through this program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. Nonresidential customers would be eligible for 50 cents per watt. Further, nonprofit customers, such as schools, would be eligible for a rebate of 75 cents per watt for systems 100 kW or less. In addition, installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for nonresidential customers, or $75,000 for nonprofit customers.
“Duke Energy’s North Carolina customers have never had a better opportunity to take control of their energy future with solar than with this rebate program. We’re eager to work with those customers to take advantage of the incentive,” Jay Radcliffe, CEO of Renu Energy Solutions of Charlotte, said. “The federal tax credit is still in place. In nearly a decade of installing solar, now is the best time I’ve seen for customers to save.”
Rebate Details
Duke Energy customers will also have the option of leasing solar panels from another company.
“We structured our program to give customers as much flexibility as possible to pursue renewable options,” Fountain said. “Of course, customers have to determine if solar energy fits their needs.”
